Transcend Capital Advisors LLC Sells 5,287 Shares of CVS Health Co. (NYSE:CVS)

Transcend Capital Advisors LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 27.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,954 shares of the pharmacy operator’s stock after selling 5,287 shares during the quarter. Transcend Capital Advisors LLC’s holdings in CVS Health were worth $626,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CVS. State Street Corp raised its holdings in CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC grew its stake in CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock valued at $1,651,997,000 after purchasing an additional 461,569 shares in the last quarter. Pzena Investment Management LLC grew its stake in CVS Health by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after purchasing an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock valued at $767,681,000 after purchasing an additional 304,386 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

NYSE CVS opened at $63.42 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $79.95 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.98 and a beta of 0.61. The firm has a 50-day moving average price of $52.39 and a two-hundred day moving average price of $56.22. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.19%. CVS Health’s dividend payout ratio is 72.68%.

Insider Buying and Selling

In other news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVS shares. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. UBS Group reduced their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.